Southern Workforce Board Incorporated
Nonprofit profile at a glance
- EIN
- 455383995
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Durant, OK, USA
- Phone
- 5807455397
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Employment Procurement Assistance
Reported finances
- Revenue
- $4,019,208
- Expenses
- $4,022,597
- Assets
- $342,137
- Liabilities
- $348,250
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
28 people listed
Executive titles in this filing
- Kerry Manning (Executive Director)
Highest reported compensation
- Kerry Manning (Executive Director): $72,358 total reported compensation
- Karen Davidson (Deputy Director): $70,639 total reported compensation
- Gail Armstrong (Fiscal Officer): $64,509 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
SWB Board's Mission is to implement a strategic process that aligns workforce with economic development in partnership with the community to maximize and address needs. Workforce Development Boards (WDB) are regional entities created to implement the Workforce Innovation and Opportunity Act of 2014. The WDB's main role is to direct federal, state and local funding and oversee services provided to and for workforce development programs.
What it reported doing in 2024
Youth Program Services - SWB administers funds and oversees services by contracting with a service provider that targets eligible youth seeking assistance in achieving academic and employment success, effective and comprehensive activities for improving educational and skill competencies, and provide effective connections to employers. Services for on-going mentoring opportunities, in the workplace and the community, training, supportive services, incentives for recognition and achievements, as well as opportunities in activities related to leadership, development, decision making, citizenship, and community service.
Operating model
- Revenue model
- Grant-funded. 99% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 23
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.6%; rating input score 93
- Program expense ratio: 92.5%; rating input score 93
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -0.1%; rating input score 33; 33rd percentile among comparable filings
- Total-asset coverage ratio: 0.09; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: 1.02; rating input score 5; 5th percentile among comparable filings
- Officer compensation ratio: 5.2%; rating input score 52; 52nd percentile among comparable filings
Growth
- Program expense growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings
- Revenue growth: 8.9% per year; rating input score 100; 64th percentile among comparable filings
- Asset growth: 7% per year; rating input score 100; 45th percentile among comparable filings
Details
- Where the money goes: 92.6% of revenue deployed · 92.5% of spending went to programs
- Governance: 25 of 25 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $3.7M in reported program spending
- Leadership: top reported pay $72K · 28 people listed
- Highest-paid contractors: 3 contractors listed · $3.8M reported
- Consistency: 42 of 42 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 13 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 33/100.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 5/100.
- Review — Sustainability: Officer compensation ratio scored 52/100.